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Fuel is also a lot more expensive now. And that makes up quite a significant chunk of the flying costs. On a quick look, the price of an hour of flying has gon
by bergie 13y ago
Fuel is also a lot more expensive now. And that makes up quite a significant chunk of the flying costs.
On a quick look, the price of an hour of flying has gone up nearly 50% in the last ten years in the aviation club I used to belong to.
- sokoloff 13y agoThat's what 4.1% annual inflation compounded over 10 years will do. In real dollar terms, that price is very close to what it was 10 years ago.
- bergie 13y agoEuro area inflation has been way lower than that, it seems. Including negative % on some years
- deleted 13y ago[deleted]
- scott_karana 13y agoHave fuel costs and taxes also done the same, though? Fuel will make the majority of operating costs if you fly with any frequency, I suspect.
- mercutio2 13y agoWhere do you get 4.1% inflation from? CPI for the USD hasn't gone up by that much in a single year for the last decade, annualized inflation is closer to 2.5% over that period.
- sokoloff 13y ago4.1% is the 10th root of 150% minus 1. "OMG, this cost went up 50% over ten years!" sounds like a dire situation, when in fact it's a tiny margin over whatever inflation measure you prefer. If you take 2.5% as the annualized inflation, that's 28% over that 10 year period, meaning the other 17% increase is 1.6% "real dollar increase" per year. Hardly frightening, IMO.
- mercutio2 13y agoAh. I interpreted your statement as "we had 4.1% inflation in the last decade". Your intent was "it's as if we 'd had 4.1% inflation, not much more than actual inflation". I completely agree that nominal gas rates aren't the right measure, and the real price increase has indeed been tiny.